IPSCO LIMITED
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Next accounts due
2026-11-30 (in 6mo)
Last filed for 2025-02-28
Confirmation statement due
2027-01-18 (in 8mo)
Last made up 2026-01-04
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
-£18M
-11.5% vs 2024
Employees
6
Average over period
Profit before tax
—
Period ending 2025-02-28
Net assets
5-year trend · vs Health Care median
Accounts
5-year trend · latest reflected 2025-02-28
| Metric | Trend | 2021-02-28 | 2022-02-28 | 2023-02-28 | 2024-02-28 | 2025-02-28 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | |
| Operating profit | — | — | — | — | — | |
| Profit before tax | — | — | — | — | — | |
| Net profit | — | — | — | -£2,237,338 | -£1,894,144 | |
| Cash | £0 | £0 | £0 | — | — | |
| Total assets less current liabilities | — | — | — | — | — | |
| Net assets | — | — | — | -£16,401,965 | -£18,296,109 | |
| Equity | — | — | -£32,566,101 | -£16,401,965 | -£18,296,109 | |
| Average employees | — | — | — | — | 6 | |
| Wages | — | — | — | £0 | £0 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Gerald Edelman LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“As a result of the above the directors have a reasonable expectation that the Group and Company has adequate resources to continue in operational existence for the foreseeable future, being a period of not less than twelve months from the date of approval of these financial statements, and continue to adopt the going concern basis of accounting in preparing the financial statements.”
Group structure
- IPSCO LIMITED · parent
- Vertical Pharma Resources Limited 100%
- Intergrated Pharmaceutical Services (IPS) Limited 100%
Significant events
- “The Group's turnover includes £27.6M (Year ended 28 February 2024 - £12.2M) from the sales of medicinal cannabis, and correspondingly £21.2M (Year ended 28 February 2024 - £9.8M) to cost of sales.”
- “Subsequent to the year end, the Group's main loan note holders formally extended the repayment date of these loans from 30 June 2025 to 30 June 2028 and the financial covenants amended to create sufficient headroom against base case forecast.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| AGARWAL, Sandeep | Director | 2025-07-01 | Nov 1979 | British |
| COOK, Grahame David | Director | 2023-04-14 | Apr 1958 | British |
| DUTTA, Soimitra Tony | Director | 2018-09-27 | Apr 1963 | British |
| PARKER, James, Dr | Director | 2019-05-01 | Aug 1955 | British |
| PATANI, Vishal | Director | 2018-09-27 | Sep 1977 | British |
| PATEL, Ashokkumar Dahyabhai | Director | 2014-10-23 | Feb 1956 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JONES OWEN, David | Director | 2014-11-19 | 2015-07-31 |
| PENFOLD, Jonathan Mark | Director | 2016-06-23 | 2019-05-10 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Ashokkumar Dahyabhai Patel | Individual | Shares 50–75% | 2016-12-04 | Active |
Filing timeline
Last 20 of 74 total filings
Material constitutional events — rename, articles re-file, resolution
- 2020-07-06 MA Memorandum articles
- 2020-07-06 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-29 | AA | accounts | Accounts with accounts type group | |
| 2025-07-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-27 | AA | accounts | Accounts with accounts type group | |
| 2024-01-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-03 | AA | accounts | Accounts with accounts type group | |
| 2023-07-14 | AA | accounts | Accounts with accounts type group | |
| 2023-06-19 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-08 | AA | accounts | Accounts with accounts type group | |
| 2021-06-09 | AA | accounts | Accounts with accounts type small | |
| 2021-05-11 | DISS40 | gazette | Gazette filings brought up to date | |
| 2021-05-04 | GAZ1 | gazette | Gazette notice compulsory | |
| 2021-01-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2020-07-06 | MA | incorporation | Memorandum articles | |
| 2020-07-06 | RESOLUTIONS | resolution | Resolution | |
| 2020-07-06 | SH06 | capital | Capital cancellation shares | |
| 2020-07-06 | SH03 | capital | Capital return purchase own shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-02-28 vs 2024-02-28
-
Turnover
—
Not reported
-
Cash
—
Not reported
-
Net assets
-11.5%
-£16,401,965 -£18,296,109
-
Employees
—
Not reported
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers